DUST vs QQQD

DUSTCDirexion Daily Gold Miners Index Bear 2X ETF

QQQDCDirexion Daily Magnificent 7 Bear 1X ETF

In short

DUST The gold-miner short, in one ticker. Running since 2010, DUST aims for 200% of the inverse of the daily move in global gold miners, then resets at the bell. Direxion dialed the target back from 3x to 2x in 2020.

QQQD Fading the Magnificent 7 without a leverage multiplier: QQQD aims for -100% of the Indxx Magnificent 7 Index's daily move, one-for-one, at 0.50% net of a waiver through September 1, 2027.

Stated mandate

DUST The fund seeks daily investment results, before fees and expenses, equal to 200% of the inverse performance of the MarketVector Global Gold Miners Index. The issuer states that achieving this objective is not guaranteed.

QQQD The fund seeks daily investment results equal to 100% of the inverse performance of the Indxx Magnificent 7 Index, before fees and expenses.

Why people hold it

• DUST A bearish miner view without borrowing shares: one ticker aims for 200% of the inverse of the MarketVector Global Gold Miners Index each trading day.direxion.com
• Listed since 2010 and actively traded, which is what a one-session trading tool needs most: a market you can get into and out of.
• At 0.94%, the fee lands near the category median for geared funds, and a shade under the 0.95% net that PSQ charges (net of a waiver through September 30, 2027).
• Direxion reset the target from 3x to 2x in 2020, so each day's miner move is magnified less than it was in the fund's first decade.sec.govsec.gov 2

• QQQD One-for-one inverse, not 2x or 3x. A 1% index gain is designed to show up as roughly a 1% fund loss that day, and the reverse on down days, with no leverage stacked on top.direxion.com
• 0.50% net of a waiver through September 1, 2027, below the category median and below the 0.95% at PSQ and DOG (net of waivers through September 30, 2027).
• Surgical target: the short exposure is to the Magnificent 7 basket itself, not a broad Nasdaq index where those seven names get diluted by dozens of others.direxion.com
• Despite launching in 2024, it stands in the upper half of a crowded bear and inverse peer group.

Worth knowing

• DUST Built for a day. Hold longer and your result is each day's compounded return, which the prospectus says will very likely differ from -200% of the index over that span.sec.gov
• Mining stocks move hard on their own. Doubling and flipping that daily move puts DUST at the high-risk end of its category, and Direxion notes the fund may not achieve its objective.direxion.com
• Distributions land quarterly, but income is not the mechanism here; the stated job is the inverse daily move, not a yield stream.

• QQQD Exposure resets every day. Hold longer than a day and compounding means the result can drift from the simple inverse of the index's move over that stretch.direxion.com
• Seven mega-caps drive everything. One earnings surprise or one AI headline can move the whole basket, with no other holdings to soften it.direxion.com
• That 0.50% is a net figure. Gross expenses run 1.08%, so the cost picture shifts if the waiver is not extended past September 1, 2027.

Full DUST profile⁠

Full QQQD profile⁠